- 1,900
I have an 84 year old male I am working with who is healthy and has 36K cash value in a whole life policy, looking at options on getting him set up with a single premium purchase, any recommendations?
36K Cash Value - SPWL?
- Thread starter Glen Shelton
- Start date
- 477
What kind of policy does he currently have? Is it universal life or whole life? If it is whole life does it pay dividends?
- 29,488
Settlers Life $35K for $29,498 for healthy non smoker.
- 477
I agree, if he has a whole life policy and does not what to pay premiums have him take a reduced paid-up policy.
- 16,881
Many times that would be for less than a new single pay. But not always.
- 24,978
I would definitely weigh a non contestable Rdpu thay may include a ABR against a new SP policy. On an 84 year old. Not that I would not write a new plan, however the new face and benefits would need to tip the scale pretty well. As Larry askwd what is the goal.
- Thread starter
- #8
- 1,900
It is a 10 pay whole life policy through State Farm, he already took the reduce paid up option, I told him I would look around to see if I could possibly get him a higher DB, this is pass on money. He is only taking 1 med for high blood pressure, good health for being 84. Just not sure with how old he is I could find him anything
- 24,978
Post what the current face is and see if someone comes up with a better option.
- Thread starter
- #10
- 1,900
Current face with reduce paid up options is 44K
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